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MINDAX LIMITED — Capital/Financing Update 2014
Dec 29, 2014
65308_rns_2014-12-29_75c4885f-5269-4f58-877b-6b1d11b1dc11.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
UPDATE
30 December 2014
ASX Code: MDX
SHAREHOLDERS AND DEVELOPMENT AGREEMENT WITH PMHL
ABN: 28 106 866 442
Corporate Description
Mindax's Mt Forrest Iron Project is progressing through feasibility with a view to mining in 2015.
Mindax is also the greenfields discoverer of a new uranium province near Mukinbudin, Western Australia.
Mindax also has exploration projects based in Western Australia which involve Gold and Copper.
Through technically advanced exploration and an eye for detail, Mindax has successfully built a significant portfolio of 20 mineral exploration and mining tenements covering over 1,280 square kilometres. In addition, Mindax has tenure in place for water and infrastructure covering over 2,400 square kilometres in support of the Mt Forrest Iron Project development.
Mindax aims to develop strategic resources through innovative exploration. Projects will be moved to production including via strategic partnerships.
Key Projects
Mt Forrest Iron Yilgarn-Avon JV Sedimentary Uranium Mortlock JV Copper-Gold Meekatharra JV Gold
Mindax Limited (the Company) has received notification from Perpetual Mining Holding Limited (PMHL) advising that efforts to secure equity funding, as contemplated in the Shareholders and Development Agreement (Agreement) , have been severely impacted by the Chinese economic situation, the capital markets and the recent significant drop in the price of iron ore.
PMHL has advised these circumstances, outside its control, have forced the regrettable decision to terminate the Agreement.
PMHL is willing to continue to co-operate with Mindax and assist with future funding and development options for the Mt Forrest Iron Project.
Mindax will now review alternative options to advance its projects and provide further updates as plans formulate.
Principal Address
End of Announcement
Ground Floor, 20 Kings Park Road West Perth WA 6005 Telephone: +61 8 9485 2600 Facsimile: +61 8 9485 2500 Email: [email protected]
Registered Office
Ground Floor, 20 Kings Park Road West Perth WA 6005
Investor Enquiries
Mr Benjamin Chow Chairman Telephone: +61 8 9485 2600 Email: [email protected]
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MINDAX LIMITED | www.mindax.com.au